Kopin (NASDAQ:KOPN) Downgraded to “Sell” at StockNews.com

Kopin (NASDAQ:KOPN) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

A number of other equities research analysts also recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $3.00 price target on shares of Kopin in a report on Monday. Stifel Nicolaus lowered their target price on shares of Kopin from $3.00 to $2.50 and set a “buy” rating for the company in a research note on Friday, August 9th.

Kopin Price Performance

Shares of Kopin stock opened at $0.79 on Wednesday. The business has a 50 day moving average price of $0.83 and a 200 day moving average price of $0.89. The company has a market capitalization of $94.00 million, a P/E ratio of -1.89 and a beta of 2.60. Kopin has a 1 year low of $0.56 and a 1 year high of $2.82.

Kopin (NASDAQ:KOPN) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). The company had revenue of $12.34 million during the quarter, compared to analysts’ expectations of $9.32 million. Kopin had a negative net margin of 114.11% and a negative return on equity of 131.82%. During the same quarter in the prior year, the company earned ($0.07) earnings per share. As a group, research analysts expect that Kopin will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Kopin

A number of hedge funds have recently made changes to their positions in the stock. Affinity Capital Advisors LLC purchased a new position in shares of Kopin in the 3rd quarter worth $54,000. XTX Topco Ltd acquired a new position in shares of Kopin in the 2nd quarter valued at about $32,000. Renaissance Technologies LLC grew its holdings in shares of Kopin by 494.4% during the 2nd quarter. Renaissance Technologies LLC now owns 846,069 shares of the company’s stock worth $711,000 after purchasing an additional 703,740 shares during the period. AMG National Trust Bank increased its position in Kopin by 10.5% during the 2nd quarter. AMG National Trust Bank now owns 105,000 shares of the company’s stock worth $88,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Murphy Pohlad Asset Management LLC raised its holdings in Kopin by 80.5% in the second quarter. Murphy Pohlad Asset Management LLC now owns 107,600 shares of the company’s stock valued at $90,000 after buying an additional 48,000 shares during the period. Institutional investors and hedge funds own 30.96% of the company’s stock.

Kopin Company Profile

Kopin Corporation, together with its subsidiaries, invents, develops, manufactures, and sells microdisplays, subassemblies, and related components for defense, enterprise, industrial, and consumer products in the United States, the Asia-Pacific, Europe, and internationally. It offers miniature active-matrix liquid crystal displays, liquid crystal on silicon displays/spatial light modulators, organic light emitting diode displays, microLED display technologies, application specific integrated circuits, backlights, and optical lenses; and head-mounted and hand-held VR products.